I think I got morning chop...

Who knows when it comes to trying interpret little moves on a 13-tick chart, though. Now a small ABCD. But it's really just chop and no conviction. Probably the best bet is to scratch and quit for the day. And I still think the buyers will be emboldened by the failure here. Trying to see if any sellers come in, but the action is just crap today.

Trying to give it time to develop, but it feels very futile, the way the action is today...

And keeping an eye on a small bullish 4PT that may be developing in here, too...

Ridiculous...

This is a new level of 'pathetic-ness' for this market.

That's enough for me. This is one of those wedges that always breaks up in my experience. Scratch.

Now it can be free to dump, and likely will :-) Regardless, I don't see the edge in sitting in coiling chop at a PTA that produces no reaction when they seem to want to run it. Even if it now drops, so be it, but I don't see my edge any longer here at this point.

Did you stay with that M, I hope? Recall our discussion about setting the stop and just letting it do what it does, and not too much tick chart reading? Wish I had done that myself. That's the tough thing here, and it's a good lesson. The market will chop one up just enough so that the next time you won't wait the chop out, and then it is free to move. By the time you see some pattern, it's done 'working'. So, the chop didn't play out enough times that it got me to think the odds favored it not playing out, it 'got me off the trade', and then it did play out. I see this happen over and over with various market aspects, where it does something just long enough for you to change your behavior, and then it changes and does what you expected in the first place.

And now, lo and behold, this stopped dead on that same TL. If they take it out we may see a closing flush.

Watch that TL... Everyone else is.

M, tell me you are still in?

Well, even if I did it would have been 3.5 points at the most and I certainly wouldn't have exited right at the bottom, but waited to see if it finally flushes out. So I reckon it would have been 2.5 points at the most. With all the agony of sitting through the chop still a complete waste of time imo.